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Published on 12 Jul 2017
Bank
of England Deputy Governor Ben Broadbent says Britain will suffer if
its existing trade links with the EU are weakened by Brexit. Meanwhile
Britain’s Foreign Secretary Boris Johnson says the EU’s demands are
‘extortionate". He says the sums that he has seen from the EU for the UK
exit bill seem to be extortionate and that telling the EU to go whistle
is an entirely appropriate expression.
Meanwhile S&P has warned that UK economic growth is likely to slow by 1.4% this year and 0.9% in 2018 – sighting Brexit as the main influencer of this decline and doesn’t expect the Bank of England to raise rates before mid 2019. And added that the weaker Sterling will not boast exports enough to offset weak domestic demand. The Pound is attempting to break higher from trendline support, following a consolidation at the beginning of the week.
Marks and Spencers reported a 1.2% fall in household and clothing sales for the three months to July 1 which as you can see has taken its toll on the share price. Although CEO Steve Rowe said the results were in line with expectations.
Education publisher Pearson is the biggest faller after the company said it was selling a 22% stake in book publisher Penguin Random House.
#forexnews
@CVecchioFX
@DavidJSong
@MBForex
Meanwhile S&P has warned that UK economic growth is likely to slow by 1.4% this year and 0.9% in 2018 – sighting Brexit as the main influencer of this decline and doesn’t expect the Bank of England to raise rates before mid 2019. And added that the weaker Sterling will not boast exports enough to offset weak domestic demand. The Pound is attempting to break higher from trendline support, following a consolidation at the beginning of the week.
Marks and Spencers reported a 1.2% fall in household and clothing sales for the three months to July 1 which as you can see has taken its toll on the share price. Although CEO Steve Rowe said the results were in line with expectations.
Education publisher Pearson is the biggest faller after the company said it was selling a 22% stake in book publisher Penguin Random House.
#forexnews
@CVecchioFX
@DavidJSong
@MBForex
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